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of <h1>Central Government Extends Rotary Noida Blood Bank Project Eligibility u/s 35AC, Increases Tax Deduction Limit.</h1> The Central Government has extended the eligibility of the 'Rotary Noida Blood Bank' project, operated by Rotary Noida Research and Social Welfare, as an eligible scheme under section 35AC of the Income-tax Act, 1961. Initially notified for three years starting from the financial year 2009-10, the project is now extended for an additional three years from 2012-13 to 2014-15. The maximum allowable project cost for tax deduction has been increased from Rs. 139.44 lakh to Rs. 539.44 lakh, following the National Committee's recommendation and amendment to the original notification dated 6th August 2009.
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